China fines LG Display, Samsung and others over alleged price fixing

Companies embroiled in display price fixing scandals aren't out of the woods just yet. China's National Development and Reform Commissionhas just fined six manufacturers ¥353 million($56.7 million)for allegedly colluding on LCD prices, including Korean heavyweights LG Display and Samsung as well as Taiwan-based AU Optronics, Chungwa Picture Tubes, HannStar and Innolux. The accusations behind the latest penalty aren't quite the same as in other countries, but they share a familiar story: China believes the firms agreed to keep costs artificially high between 2001 and 2006, making ¥208 million yuan ($33.4 million) in undeserved profit. While the immediate fiscal damage will be light when it's spread across several companies, it adds to punishment that has already ranged into the hundreds of millions of dollars.